India has so far given permission to three Singapore banks to open a total of 15 branches in the country.

Similarly, Singapore granted qualifying full bank privileges to three Indian banks, Singapore’s Minister of Trade and Industry Lim Hng Kiang was quoted as saying by The Straits Times.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

The two Indian banks which have been approved so far are the State Bank of India and ICICI Bank.

The approvals are granted under the Comprehensive Economic Cooperation Agreement (Ceca) signed between the two countries in 2005.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.